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MIRA INFORM REPORT
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Report No. : |
487005 |
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Report Date : |
29.01.2018 |
IDENTIFICATION DETAILS
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Name : |
TESCO INTERNATIONAL SOURCING |
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Registered Office : |
15/F., Devon House,
Taikoo Place, 979 King’s Road, Quarry Bay |
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Country : |
Hong Kong |
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Date of Incorporation : |
25.04.2005 |
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Com. Reg. No.: |
04744957-002-04 |
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Legal Form : |
Sole Ownership |
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Line of Business : |
Subject is engaged
in Importer and Exporter all kinds of garments and accessories. |
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No. of Employees : |
240 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Hong Kong |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of reexports, is about four times GDP. Hong Kong has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China through trade, tourism, and financial links aided a more rapid initial recovery than many observers anticipated, its continued reliance on foreign trade and investment leaves it vulnerable to renewed global financial market volatility or a slowdown in the global economy.
The Hong Kong Government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 9.4% of total system deposits in Hong Kong by the end of 2015. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota.
The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's total trade by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 47.3 million in 2014, outnumbering visitors from all other countries combined. Mainland visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million, reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2015, mainland Chinese companies constituted about 51% of the firms listed on the Hong Kong Stock Exchange and accounted for about 62.1% of the exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. In 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, which took effect in March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.
Credit expansion and a tight housing supply have caused Hong Kong property prices to rise rapidly; consumer prices increased 2.6% in 2016, but slowed to 2.0% in 2017. Lower- and middle-income segments of the population are increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most evident in the banking and finance sector. Initiatives like the Hong Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong Shanghai Gold Connect are all important steps towards opening up the Mainland’s capital markets and has reinforced Hong Kong’s leading role as China’s offshore RMB market. Additional connect schemes from bonds to commodities and other investment products are also under exploration by Hong Kong authorities.
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Source
: CIA |
Company
name and address
TESCO INTERNATIONAL SOURCING
ADDRESS: 15/F.,
Devon House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong.
PHONE: 852-2722
5960, 2722 5961, 3589 7000
FAX: 852-2722
5212, 2369 5068, 3575 7553
E-MAIL: hr@tescohk.com
enquiry-hk-hardlines@tescois.com
enquiry-hk-clothing@tescois.com
MANAGEMENT
Manager: Ms.
Alison Tania Rose
SUMMARY
Establishment:
25th April, 2005.
Organization: Sole
Ownership.
Capital: Provided
by Parent.
Business Category: Importer
and Exporter.
Group Revenue (sales excluding value added tax):-
£55,917 million
(52 weeks ended 25-02-2017)
Employees: 240.
Main Dealing Bankers: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation:
Very Good.
TESCO INTERNATIONAL SOURCING
ADDRESS:
Head Office:-
15/F., Devon House, Taikoo Place, 979 King’s Road, Quarry
Bay, Hong Kong.
Parent Company:-
Tesco International Sourcing Limited, Hong Kong. (Same
address)
China Office:-
Room 1701-1702 & 1706-1709, SML Centre, No. 610,
Xujiahui Road, Hangpu District, Shanghai 200025, China.
[Tel: 86-21-6127 2000;
Fax: 86-21-6447 5510]
Intermediate Holding Company:-
Tesco Holdings BV, Netherlands.
Ultimate Holding Company:-
Tesco PLC, UK.
Associated Companies:-
Tesco Group of Companies
Adminstore Ltd., U.K.
Adsega Ltd., U.K.
Alfred Preedy & Sons (Trustees) Ltd., U.K.
Alfred Preedy & Sons Ltd., U.K.
Anthony Heagney Ltd., U.K.
Arena (Jersey) Management Ltd., Jersey.
Armitage Finance Unlimited, U.K.
Armitage Luxembourg s.a.r.l., Luxembourg.
Beehythe Estates Ltd., U.K.
BLT Properties Ltd., U.K.
Broughton Retail Park Nominee 1 Ltd., U.K.
Broughton Retail Park Nominee 2 Ltd., U.K.
Broughton Retail Park Nominee 3 Ltd., U.K.
Broughton Retail Park Nominee 4 Ltd., U.K.
Bugden Ltd., U.K.
Buttoncable Ltd., U.K.
Buttoncase Ltd., U.K.
Careneed News Ltd., U.K.
Cheshung Hungary Servicing Ltd. Liability Co., Hungary.
Cheshunt Finance Unlimited, U.K.
Cheshunt Holdings Guernsey Ltd., Guernsey.
China Property Holdings (HK) Ltd., Hong Kong.
Chirac Ltd., Ireland.
Cirrus Finance (2009) Ltd., Ireland.
Cirrus Finance Ltd., Ireland.
Cirrus Luxembourg s.a.r.l., Luxembourg.
Clondalkin Properties Ltd., Ireland.
Comar Ltd., U.K.
Commercial Investments Ltd., Ireland.
Crest Ostrava a.s., Czech Republic.
Cullen’s Holdings Ltd., U.K.
Cullen’s Stores Ltd., U.K.
Daily Wrap Produce Ltd., U.K.
Day and Nite Stores Ltd., U.K.
Delamare Holdings BV, Netherlands.
Delamare Luxembourg s.a.r.l., Luxembourg.
Delamare One Ltd., U.K.
Department store Brno s.r.o., Czech Republic.
Department store HK s.r.o., Czech Republic.
Department store Pardubice s.r.o., Czech Republic.
Department store Plzen s.r.o., Czech Republic.
Dillons Newsagents Ltd., U.K.
dunnhumby (Korea) Ltd., Korea.
dunnhumby (Malaysia) Sdn. Bhd., Malaysia.
dunnhumby (Thailand) Ltd., Thailand.
dunnhumby Brazil Consultora Ltda., Brazil.
dunnhumby Colombia S.A.S., Colombia.
Dunnhumby Computer Information Technology and Consultancy
Services LLC, Turkey.
dunnhumby Consulting Canada Ltd., Canada.
dunnhumby Consulting Services India Private Ltd., India.
dunnhumby Czech s.r.o., Czech Republic.
dunnhumby Employment Co. Ltd., U.K.
dunnhumby France SAS, France.
dunnhumby Holding Ltd., U.K.
dunnhumby Hungary Kft, Hungary.
dunnhumby Inc., U.S.
dunnhumby Information Technology Consulting (Shanghai)
Co. Ltd., China.
dunnhumby International Ltd., U.K.
dunnhumby Ireland Ltd., Ireland.
dunnhumby IT Services India Private Ltd., India.
dunnhumby Italia Srl., Italy.
dunnhumby Japan K.K., Japan.
dunnhumby Ltd., U.K.
dunnhumby Mexico S. de R.L. de C.V., Mexico.
dunnhumby Overseas Ltd., U.K.
dunnhumby Poland SP. z.o.o., Poland.
dunnhumby South Africa (Pty) Ltd., South Africa.
dunnhumby Trustees Ltd., U.K.
dunnhumby Ventures LLC, U.S.
Edson Investments Ltd., Ireland.
Edson Properties Ltd., Ireland.
Ek-Chai Distribution System Co. Ltd., Thailand.
ELH Insurance Ltd., Guernsey.
Europa Foods Ltd., U.K.
Faraday Properties Ltd., U.K.
Food & Wine Lovers Ltd., U.K.
Genesis sp. z.o.o., Poland.
Gibbs News Ltd., U.K.
Gibbs Newsagents Ltd., U.K.
Golden Island Management Services Ltd., Ireland.
Halesworth SPV Ltd., U.K.
Harts The Grocers (Russell Square) Ltd., U.K.
Harts The Grocers (TCR) Ltd., U.K.
J E Properties Holdings Ltd., U.K.
J.E. Cohen & Co. Ltd., U.K.
Jasper Sp. z.o.o., Poland.
Kabaty Investments Tesco (Polska) Sp. z.o.o. SP.k.,
Poland.
KSS Retail Ltd., U.K.
Launchgrain Ltd., U.K.
Laws Stores Ltd., U.K.
Lekaren Tesco Banska Bystrica k.s., Slovakia.
Lekaren Tesco Dunajska Streda k.s., Slovakia.
Lekaren Tesco Kosice k.s., Slovakia.
Lekaren Tesco Lamac k.s., Slovakia.
Lekaren Tesco Nitra k.s., Slovakia.
Lekaren Tesco Petrzalka k.s., Slovakia.
Lekaren Tesco Piest’any k.s., Slovakia.
Lekaren Tesco Presov Vukov k.s., Slovakia.
Lekaren Tesco Senec k.s., Slovakia.
Lekaren Tesco Spisska Nova Ves k.s., Slovakia.
Lekaren Tesco Trecin k.s., Slovakia.
Lekaren Tesco Trnava k.s., Slovakia.
Lekaren Tesco Zlate Piesky k.s., Slovakia.
Lekaren Tesco Zvolen k.s., Slovakia.
Letnany Development Land 1 s.r.o., Czech Republic.
Letnany Development Land 2 s.r.o., Czech Republic.
Linebush III Holdings Ltd., U.K.
Linebush III Ltd., U.K.
Linebush IV Ltd., U.K.
Linebush Ltd., U.K.
Linebush V Ltd., U.K.
London and Home Counties Superstores Ltd., U.K.
M & W Ltd., U.K.
Marine Coffee Company Holdings Ltd., Ireland.
Marine Coffee Company Nominees Ltd., Ireland.
Mills (East Midlands) Ltd., U.K.
Mills (West Midlands) Ltd., U.K.
Mills Group Holdings Ltd., U.K.
Mills Group Ltd., U.K.
Monread Developments Ltd., Ireland.
Morgam Holdings Ltd., U.K.
Morgam News Ltd., U.K.
Motorcause Ltd., U.K.
Nabola Development Ltd., Ireland.
NutriCentre Ltd., U.K.
Oakwood Distribution Ltd., U.K.
Obchodny dom Bratislava s.r.o., Slovakia.
Obchodny dom Kosice s.r.o., Slovakia.
Obchodny dom Nitra s.r.o., Slovakia.
Obchodny dom Presov s.r.o., Slovakia.
Old FEHC Inc., U.S.
Old FENM Inc., U.S.
Old FEPC Inc., U.S.
One Stop Community Stores Ltd., U.K.
One Stop Convenience Stores Ltd., U.K.
One Stop Stores Ltd., U.K.
One Stop Stores Trustee Services Ltd., U.K.
Orpingford PEJ Property Developments Ltd., Ireland.
Orpington (Station Road) Ltd., U.K.
Paper Chain (East Anglia) Ltd., U.K.
Pharaway Properties Ltd., Ireland.
PTLL Ltd., U.K.
R.J.D. Holdings, Ireland.
Seacroft Green Nominee 1 Ltd., U.K.
Seacroft Green Nominee 2 Ltd., U.K.
Seberoy Site s.r.o., Czech Republic.
Shuke Advertising (Shanghai) Co. Ltd., China.
Snowman Retail 1 Ltd., U.K.
Snowman Retail 2 Ltd., U.K.
Sociomantic Labs AB, Sweden.
Sociomantic Labs B.V., Netherlands.
Sociomantic Labs GmbH, Germany.
Sociomantic Labs Inc., U.S.
Sociomantic Labs Internet Hizmetleri Limited Sireketi,
Turkey.
Sociomantic Labs LLC, Russia.
Sociomantic Labs Ltd., U.K.
Sociomantic Labs Private Ltd., India.
Sociomantic Labs Pte. Ltd., Singapore.
Sociomantic Labs s.r.o., Czech Republic.
Sociomantic Labs SARL, France.
Sociomantic Labs Servicos Web Ltda., Brazil.
Sociomantic Labs Sp. z.o.o., Poland.
Sociomantic S.L.U., Spain.
Spen Hill Developments (Holdings) Ltd., U.K.
Spen Hill Developments Ltd., U.K.
Spen Hill Management Ltd., U.K.
Spen Hill Properties (Holdings) plc, U.K.
Spen Hill Regeneration Ltd., U.K.
Spen Hill Residential No. 1 Ltd., U.K.
Spen Hill Residential No. 2 Ltd., U.K.
Statusfloat Ltd., U.K.
Stewarts Supermarkets Ltd., U.K.
T & S Management Services Ltd., U.K.
T & S Properties Ltd., U.K.
T & Stores Ltd., U.K.
Tapesilver Ltd., U.K.
Teesport (GP) Ltd., U.K.
Teesport (Nominee) Ltd., U.K.
Tesco (Jersey) Ltd., Jersey.
Tesco (Overseas) Ltd., U.K.
Tesco (Polska) Sp. z.o.o., Poland.
Tesco Akademia Kepzesi es Fejiesztesi Koratolt
Felelossegu Tarsasag, Hungary.
Tesco Aqua (3LP) Ltd., U.K.
Tesco Aqua (FinCo1) Ltd., U.K.
Tesco Aqua (FinCo2) Ltd., U.K.
Tesco Aqua (GP) Ltd., U.K.
Tesco Aqua (Nominee 1) Ltd., U.K.
Tesco Aqua (Nominee 2) Ltd., U.K.
Tesco Aqua (Nominee Holdco) Ltd., U.K.
Tesco Atrato (1LP) Ltd., U.K.
Tesco Barbers Wood Ltd., U.K.
Tesco Bengalaru Private Ltd., India.
Tesco Blue (3LP) Ltd., U.K.
Tesco Blue (FinCo2) Ltd., U.K.
Tesco Blue (GP) Ltd., U.K.
Tesco Blue (Nominee 1) Ltd., U.K.
Tesco Blue (Nominee 2) Ltd., U.K.
Tesco Blue (Nominee Holdco) Ltd., U.K.
Tesco Capital No. 1 Ltd., Jersey.
Tesco Capital No. 2 Ltd., Jersey.
Tesco Card Services Ltd., U.K.
Tesco Chile Sourcing Ltda., Chile.
Tesco Corporate Treasury Services PLC, U.K.
Tesco Depot Propco Ltd., U.K.
Tesco Digial Ventures Pte. Ltd., Singapore.
Tesco Distribution Holdings Ltd., U.K.
Tesco Distribution Ltd., U.K.
Tesco Dorney (1LP) Ltd., U.K.
Tesco Dystrybucja Sp. z.o.o., Poland.
Tesco Employees’ Share Scheme Trustees Ltd., U.K.
Tesco Estates Ltd., U.K.
Tesco EU IT Services s.r.o., Czech Republic.
Tesco Europe B.V., Netherlands.
Tesco Family Dining Ltd.,U.K.
Tesco FFC Ltd.,U.K.
Tesco Food Sourcing Brazil Consultoria De Negocios Ltda.,
Brazil.
Tesco Food Sourcing Ltd., U.K.
Tesco Franchise Stores CR s.r.o., Czech Republic.
Tesco Freetime Ltd., U.K.
Tesco Fuchsia (3LP) Ltd., U.K.
Tesco Gateshead Property Ltd., U.K.
Tesco Global Employment Co. Ltd., Thailand.
Tesco Guangdong (HK) Co. Ltd., Hong Kong.
Tesco High Beech Ltd., U.K.
Tesco Holdings B.V., Netherlands.
Tesco Holdings Ltd., U.K.
Tesco Hungary (Holdings) Ltd., U.K.
Tesco International Clothing Brand s.r.o., Slovakia.
Tesco International Franchising s.r.o., Slovakia.
Tesco International Internet Retailing Ltd., U.K.
Tesco International Services Ltd., U.K.
Tesco Ireland Holdings Ltd., Ireland.
Tesco Ireland Ltd., Ireland.
Tesco Ireland Pension Trustees Ltd., Ireland.
Tesco Joint Buying Service (Shanghai) Co. Ltd., China.
Tesco Kipa Kitle Pazarlama Ticaret Lojistik ve Gide
Sanayi A.S., Turkey.
Tesco Kirkby (General Partner) Ltd., U.K.
Tesco Kirkby (LP) Ltd., U.K.
Tesco Kirkby (Unitholder1) Ltd., U.K.
Tesco Kirkby (Unitholder2) Ltd., U.K.
Tesco Lagoon GP Ltd., U.K.
Tesco Maintenance Ltd., U.K.
Tesco Mauritius Holdings Ltd., Mauritius.
Tesco Mobile (Thailand) Co. Ltd., Thailand.
Tesco Mobile Communications Ltd., U.K.
Tesco Mobile Ltd., U.K.
Tesco Mobile Polska Sp. z.o.o., Poland.
Tesco Monile Services Ltd., U.K.
Tesco Navona (1LP) Ltd., U.K.
Tesco Navona (GP) Ltd., U.K.
Tesco Navona (Nominee 1) Ltd., U.K.
Tesco Navona (Nominee 2) Ltd., U.K.
Tesco Navona (Nominee Holdco) Ltd., U.K.
Tesco Navona PL Propco Ltd., U.K.
Tesco Opticians Ltd., U.K.
Tesco Overseas Investments Ltd., U.K.
Tesco Overseas ULC, U.K.
Tesco Passaic (1LP) Ltd., U.K.
Tesco Passaic (GP) Ltd., U.K.
Tesco Passaic (Nominee 1) Ltd., U.K.
Tesco Passaic (Nominee 2) Ltd., U.K.
Tesco Passaic (Nominee Holdco) Ltd., U.K.
Tesco Passaic PL Propco Ltd., U.K.
Tesco PEG Ltd., U.K.
Tesco PENL Ltd., U.K.
Tesco Pension (Jade) Ltd., U.K.
Tesco Pension Investment Ltd., U.K.
Tesco Pension Trustees Ltd., U.K.
Tesco Personal Finanace PLC, U.K.
Tesco Personal Finance Group Ltd., U.K.
Tesco Property (No. 1) Ltd., Jersey.
Tesco Property (Nominees) (No.1) Ltd., U.K.
Tesco Property (Nominees) (No.2) Ltd., U.K.
Tesco Property (Nominees) Ltd., U.K.
Tesco Property Finance 1 Holdco Ltd., U.K.
Tesco Property Finance 1 PLC, U.K.
Tesco Property Holdings (No.2) Ltd., U.K.
Tesco Property Holdings Ltd., U.K.
Tesco Property Ltd., China.
Tesco Property Nominees (No.5) Ltd., U.K.
Tesco Property Nominees (No.6) Ltd., U.K.
Tesco Property Partner (GP) Ltd., U.K.
Tesco Property Partner (No.1) Ltd., U.K.
Tesco Property Partner (No.2) Ltd., U.K.
Tesco Red (3LP) Ltd., U.K.
Tesco Red (GP) Ltd., U.K.
Tesco Red (Nominee 1) Ltd., U.K.
Tesco Red (Nominee 2) Ltd., U.K.
Tesco Red (Nominee Holdco) Ltd., U.K.
Tesco Sarum (1LP) Ltd., U.K.
Tesco Seacroft Ltd., U.K.
Tesco Secretaries Ltd., U.K.
Tesco Services Ltd., U.K.
Tesco Sourcing India Private Ltd., India.
Tesco Stores (Malaysia) Sdn. Bhd., Malaysia.
Tesco Stores (Thailand) Ltd., Thailand.
Tesco Stores CR a.s., Czech Republic.
Tesco Stores Ltd., U.K.
Tesco Stores SR a.s., Slovakia.
Tesco Technology Services HK Ltd., Hong Kong.
Tesco Treasury Services PLC, U.K.
Tesco Trustee Company of Ireland Ltd., Ireland.
Tesco Underwriting Ltd., U.K.
Tesco Worldwide Ltd., U.K.
Tesco-Global Stores Privately Held Co. Ltd., Hungary.
The Teesport Ltd. Partnership, U.K.
The Tesco Aqua Ltd. Partnership, U.K.
The Tesco Atrato Ltd. Partnership, U.K.
The Tesco Blue Ltd. Partnership, U.K.
The Tesco Coral Ltd. Partnership, U.K.
The Tesco Dorney Ltd. Partnership, U.K.
The Tesco Kirkby Ltd. Partnership, U.K.
The Tesco Navona Ltd. Partnership, U.K.
The Tesco Passaic Ltd. Partnership, U.K.
The Tesco Property (No. 2) Ltd. Partnership, Jersey.
The Tesco Property Ltd. Partnership, U.K.
The Tesco Red Ltd. Partnership, U.K.
The Tesco Sarum Ltd. Partnership, U.K.
Thundridge, Ireland.
Trent Hypermarket Ltd., India.
Trigger Retail Ltd., U.K.
Valiant Insurance Co. DAC, Ireland.
Verulam Properties (2001) Ltd., U.K.
Verulam Properties Ltd., U.K.
Victoria BB Sp. z.o.o., Poland.
Wanze Propertiers (Dundalk) Ltd., Ireland.
Weymouth Avenue (Dorchester) Ltd., U.K.
Wm. Low Supermarkets Ltd., U.K.
Worple Road PLC, U.K.
WSC Properties Ltd., Ireland.
etc.
BUSINESS REGISTRATION NUMBER: 04744957-002-04
MANAGEMENT
Manager: Ms.
Alison Tania Rose
SOLE OWNER: Tesco
International Sourcing Limited, Hong Kong.
(See attachemnt)
HISTORY
The subject was established on 25th April, 2005 as a sole
ownership firm with Tesco International Sourcing Limited as the proprietor
under the Hong Kong Business Registration Regulations.
Apart from these, neither material change nor amendment
has been ever traced and noted.
OPERATIONS
Activities: Importer
and Exporter.
Lines: All kinds
of garments and accessories.
Office Space:
37,000 sq.ft.
Employees: 240.
464,520. (Group) –
[FY2017]
Commodities Imported: Imported
from Europe and Asian countries.
Markets: UK,
Europe and Asia.
Group Revenue (sales excluding value added tax):-
|
FY/Period |
Whole Group |
|
52 weeks ended 24-02-2013 |
£63,406 million |
|
52 weeks ended 22-02-2014 |
£63,557 million |
|
53 weeks ended 28-02-2015 |
£56,925 million |
|
52 weeks ended 27-02-2016 |
£53,933 million |
|
52 weeks ended 25-02-2017 |
£55,917 million |
|
26 weeks ended 27-08-2016 |
£27,338 million |
|
26 weeks ended 26-08-2017 |
£28,348 million |
Terms/Sales: CAD, or
as per contracted.
Terms/Buying: L/C,
D/P and T/T.
FINANCIAL
INFORMATION
Capital: Provided by
Parent.
Group Operating Profit/(Loss):-
|
FY/Period |
Whole Group |
|
52 weeks ended 24-02-2013 |
£2,382 million |
|
52 weeks ended 22-02-2014 |
£2,631 million |
|
53 weeks ended 28-02-2015 |
(£5,750) million |
|
52 weeks ended 27-02-2016 |
£1,072 million |
|
52 weeks ended 25-02-2017 |
£1,017 million |
|
26 weeks ended 29-08-2016 |
£ 515 million |
|
26 weeks ended 26-08-2017 |
£ 885 million |
Profit or Loss: Group
made profits in past two years.
Condition: Keeping
in an active manner.
Facilities: Making
active use of general banking facilities.
Payment: Regular
Commercial Morality:
Satisfactory.
Principal Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd.,
Hong Kong
Standard Chartered Bank (Hong Kong) Ltd.,
Hong Kong.
Standing: Good.
GENERAL
Tesco International
Sourcing is the business name of Tesco International Sourcing Limited [TIS]
which is located at the same address.
The subject is
trading in the same products as TIS.
TIS is trading in the
following products:
Suits & Jackets –
Men’s, Suits & Jackets – Women’s, Children’s Wear, Blouses, Jeans, Dresses
& Skirts, Evening & Party Dresses, High Fashion Wear, Shirts, Tailor Made
Garments, Trousers, Slacks, Cardigan, Sweater & Pullover, Tee & Sweat
Shirts, Sport Suits, Fashion Accessories, Footwear, Handbags, Decorations &
Crafts, Paintings & Prints, Babies’ Wear, Healthcare Product - Electrical,
Audio Equipment, Computer & Peripherals, Electrical Appliances, Consumer
Electronics (Misc.), Electronic Parts, Hair Ornament, ECO Textiles, etc.
TIS is one of the
world’s largest retailers with stores in the United Kingdom, Europe and
Asia. It is a purchasing office in Hong
Kong for Tesco plc [Tesco] which is the ultimate holding company of TIS. Tesco and its associated company and
subsidiaries are referred to Group.
TIS works directly
with the manufacturer to ensure the competitive prices and uniquely
differentiated products, while maintaining the required quality. Since 1999, TIS has broadened its sourcing
portfolio to cover not only apparel and toys from Southern China, but also
products such as electrical, household, homeware, outdoor furniture, baby and
sports equipment.
TIS is responsible
for buying over 100,000 non-food products for the Group.
TIS’s international
sourcing team shipped all kinds of products from 54 ports. It also has sourcing hubs in China, India,
Sri Lanka, Bangladesh and Turkey, with smaller offices in Thailand, Czech
Republic and Italy.
Tesco is a public
limited company incorporated in the United Kingdom under the Companies Act 1985
with registration number 445790. It is
listed on the London Stock Exchange with ticker symbol “TSCO” and has a level 1
OTC American Depositary Receipt Programme in the United States with ticker
“TSCDY”. Tesco is one of the world’s
leading international retailers.
The principal
activity of the Tesco Group is food retailing and associated activities in the United
Kingdom, the Republic of Ireland, Hungary, Poland, the Czech Republic,
Slovakia, Turkey, Thailand, South Korea, Taiwan, Malaysia, Japan, as well as
China.
The principal
activities of the Group are presented in the following segments:
Retailing and associated
activities (Retail) in:
– UK & ROI – the
United Kingdom and Republic of Ireland;
– Central Europe –
Czech Republic, Hungary, Poland, Slovakia; and
– Asia – Malaysia and
Thailand.
Retail banking and
insurance services through Tesco Bank in the UK (Tesco Bank).
In 2016/17, Group
revenue (exc. VAT) increased by £2 billion to £55.9 billion, representing an
increase of 3.7% (at actual rates) as compared with £53.9 billion in
2015/16. Group operating profit was
£1,017 million, decreased by 5.1% as compared with £1,072 million in previous
year.
For the 26 weeks
ended 26th August, 2017, the Group’s sales (excluding value added tax)
increased by 3.7% to £28.3 billion (same period of 2016: £27.3 billion). The Group’s operating profit was £885 million
(same period of 2016: made a profit of £515 million), grew by 71.8%.
For the 26 weeks
ended 26th August, 2017, the Group had 6,838 stores (same period of previous
year, the Group had 6,809 stores).
As at end of year
2017, the Group had about 460,000 employees.
In January 2017, the
Tesco Group and Booker Group plc (“Booker”), the UK’s leading food wholesaler,
announced that they have reached an agreement on the terms of a recommended
share and cash merger (the “Merger”) to create the UK’s leading food business.
By bringing together
Tesco and Booker’s retail and wholesale expertise, supply chain and digital
capabilities, the Combined Group will be able to provide greater choice,
quality, price and service in the food market, whilst improving efficiency and
reducing food waste. The Combined Group
will bring together the capacity and capability to generate new growth and
deliver significant revenue and cost synergies.
Dave Lewis joined
Tesco as Chief Executive on 1st September, 2014.
The history of the
subject in Hong Kong is over 44 years.
On the whole, in view
of the parentage of the subject, consider it good for normal business
engagements.
Company
name and address
TESCO INTERNATIONAL SOURCING LIMITED
ADDRESS: 15/F.,
Devon House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong.
BUSINESS REGISTRATION NUMBER: 04744957-000-04
COMPANY FILE NUMBER:
0036278
DATE OF INCORPORATION:
23rd November, 1973
ISSUED SHARE CAPITAL:
HK$256,000,020.00 (25,600,002 fully paid ordinary shares)
SHAREHOLDER: (As
per registry dated 23-11-2017)
|
Name |
|
No. of shares |
|
Tesco Holdings BV Atrium Business suite 6.1.34, Strawinskylaan 33105,
1077 ZX Amsterdam, Netherlands. |
|
25,600,002 ======== |
DIRECTORS: (As
per registry dated 23-11-2017)
|
Name (Nationality) |
Address |
|
Alison Tania ROSE |
Unit C, 2/F., Branksom Grande, No. 3 Tregunter Path,
Hong Kong. |
|
Philippa Mary FARRALL |
Unit 402, Tower A, Queen’s Garden, 9 Old Peak Road,
Hong Kong. |
|
Sarah Louise SAUNDERS |
Flat A, 15/F., Tower 2, The Leighton Hill, 2B Broadwood
Road, Hong Kong. |
|
Wulliam Frank Douglas HUTCHINSON |
Flat A, 23/F., The Babington, No. 6D Babington Path,
Hong Kong. |
SECRETARY: (As per
registry dated 23-11-2017)
|
Name |
Address |
Co. No. |
|
East Asia Sentinel Services Ltd. |
22/F., Tai Yau Building, 181 Johnston Road, Wanchai,
Hong Kong. |
0509562 |
REMARKS: It was originally registered under the
name of Tesco Enterprises Ltd. The name
was changed to Tesco Stores Hong Kong Ltd. on 7th October, 1977, and further to
the present style on 17th December,
2005.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.50 |
|
|
1 |
INR 90.92 |
|
Euro |
1 |
INR 79.07 |
|
HKD |
1 |
INR 8.14 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DNS |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.